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801 Bartholdi Street, The B...

Updated Oct 28, 2024

Barone Management Leases Development Site In Williamsbridge For $208/bsf On 99-year Terms
LEASEDDevelopment Site

Barone Management Leases Development Site In Williamsbridge For $208/bsf On 99-year Terms

801 Bartholdi Street, The Bronx, New York 10467, United States

Building Size

50,365 SF

Asset Type

Development Site

Closing

Aug 14, 2022

About this deal

AI

A 99-year lease agreement was recently signed for a development site located at 801 Bartholdi Street in Williamsbridge. The property spans a total of 50,365 square feet and is owned by Peter Cascino. The tenant, Barone Management, represented by Scott Barone, will occupy the site.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: Not specified
  • Address: 801 Bartholdi Street
  • Market: Williamsbridge
  • Landlord: Peter Cascino
  • Tenant: Barone Management - Scott Barone
  • Asking Rent: $208 per square foot (bsf)
  • Lease Terms: 99 years

Scott Barone, representing Barone Management, played a crucial role in finalizing the lease agreement for the development site at 801 Bartholdi Street. The agreement includes an asking rent of $208 per square foot (bsf) and a lease term of 99 years.

Players

BM
Barone ManagementTenant

New York Development Site Market Snapshot

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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